Share this @internewscast.com

If you didn’t file a tax return amid the worst of the Covid-19 pandemic and believe you’re eligible for a refund, the Internal Revenue Service wants to hear from you.

The agency said this week that more than $1 billion in unclaimed refunds for tax filing year 2020 are sitting in its coffers, and that it’s still possible for eligible filers to claim.

Due to the pandemic, filers got an unusual extension on the regular three-year return-filing window. They now have until May 17, 2024 to claim their refund for tax year 2020.

“There’s money remaining on the table for hundreds of thousands of people who haven’t filed 2020 tax returns,” said IRS Commissioner Danny Werfel in a statement. “We want taxpayers to claim these refunds, but time is running out for people who may have overlooked or forgotten about these refunds. There’s a May 17 deadline to file these returns so taxpayers should start soon to make sure they don’t miss out.”

The IRS estimates the median refund amounts for 2020 to be $932 — that is, half of the refunds are more than $932 and half are less. 

“People faced extremely unusual situations during the pandemic, which may have led some people to forget about a potential refund on their 2020 tax returns,” Werfel said. “People may have just overlooked these, including students, part-time workers and others. Some people may not realize they may be owed a refund. We encourage people to review their files and start gathering records now, so they don’t run the risk of missing the May deadline.”

Many low- and moderate-income workers may also be eligible for the Earned Income Tax Credit (EITC), worth as much as $6,660 for taxpayers with qualifying children for the 2020 tax year.

The IRS notes 2020 tax refunds may be held if an individual has not filed tax returns for 2021 and 2022.

Share this @internewscast.com
You May Also Like
Multiple arrested as anti-ICE protesters clash with police, US troops in Los Angeles

Numerous Arrests at Los Angeles Protest as Anti-ICE Demonstrators Face Off with Police and US Troops

On Friday, several individuals were taken into custody in Los Angeles as…
Chicago-area priest Father Curtis Lambert accused of sexual abuse of a minor at Sacred Heart Parish in Melrose Park: Archdiocese

Chicago Priest Father Curtis Lambert Accused of Sexual Abuse of a Minor at Melrose Park’s Sacred Heart Parish: Archdiocese Reveals

MELROSE PARK, Ill. (WLS) — A priest with service history at several…
JSO: Young couple dead after apparent murder-suicide on Jacksonville's Northside

Tragic Incident on Jacksonville’s Northside: Young Couple Found Dead in Suspected Murder-Suicide

JSO Sergeant Highfill mentioned that both individuals were approximately 19-20 years old…
Two girls, Renee Smajstrla and Janie Hunt, at Texas Christian camp found dead

Two Young Girls, Renee Smajstrla and Janie Hunt, Discovered Deceased at Texas Christian Camp

Two girls from Camp Mystic, who were missing, were discovered deceased during…
Indianapolis mass shooting leaves 2 dead, several others wounded

Two Killed and Several Injured in Indianapolis Mass Shooting

Two people were killed in a shooting that injured at least seven…
Christie Brinkley admits she is a 'fool for love' despite four failed marriages

Christie Brinkley Confesses She’s a ‘Romantic at Heart’ Even After Four Divorces

Christie Brinkley is no stranger to love. The legendary supermodel, who has been…
What Movie Should I Watch Tonight? ‘Dances with Wolves’ Extended Cut on HBO Max

Looking for a Movie to Watch Tonight? Check Out the Extended Version of ‘Dances with Wolves’ on HBO Max

This Fourth of July, take a moment to remember the Kevin Costner…
MSNBC Trivializes the Holocaust to Score Political Points on Trump and 'Alligator Alcatraz'

MSNBC Minimizes the Holocaust to Politicize Trump and ‘Alligator Alcatraz’

The article, “Don’t call it ‘Alligator Alcatraz.’ Call it a concentration camp,”…
Tucker Carlson set to release interview with Iranian president

Tucker Carlson prepares to unveil an interview with the Iranian president

Tucker Carlson is preparing to unveil an interview with Iran’s president, posing…
James McMurdock, Reform UK MP, at the House of Commons.

Reform MP James McMurdock Takes Leave from Party Due to ‘Business Conduct During Pandemic’ Concerns

REFORM MP James McMurdock has voluntarily removed the party whip from himself.…
Tropical Storm Chantal forecast to bring heavy rain to the Carolinas

Chantal Set to Deliver Heavy Rainfall to the Carolinas

Tropical Storm Chantal has developed off the southeast coast of the U.S.,…
Texas floods kill at least 24; search for missing continues

At Least 24 Dead in Texas Floods; Search for Missing People Ongoing

The destructive force of the fast-rising waters just before dawn Friday washed…